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EMC(EMC Quote) said Monday that second-quarter results will fall short of prior expectations, due in part to its inability to fulfill customer demand for its latest-generation storage platform.
EMC said second-quarter revenue was about $2.575 billion, an increase of approximately 10% from a year earlier, but below its previous projection of at least $2.66 billion.
In addition, the company now expects to earn 12 cents a share, which includes a 2-cent-a-share charge for option expense, a 2-cent amortization expense, and a 1-cent tax benefit. EMC had previously expected it would earn 13 cents a share, including items.
Shares of EMC were recently off 33 cents, or 3%, to $10.85. ...
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